Thanks to more stringent upcoming emissions regulations and growing environmental concerns, most automakers are turning to electric vehicles. But battery technology is proving to be prohibitively expensive, pricing EVs well out of reach of the average buyer. However, for those residing in the state Oklahoma, federal and state tax credits can put an EV in your driveway for a mere $865.
OK, so $865 won’t exactly get you a Tesla Roadster , but it can get Oklahoma residents a brand new Kandi Coco. Never heard of the Coco? That’s because it’s a neighborhood electric vehicle, but the glorified golf cart does qualify for federal and state tax credits due to its electric drivetrain.
The Kando Coco retails for $10,599, but is eligible for a federal tax credit of $4,435. Throw in a 50 percent state tax credit for electric vehicles – worth $5,299 in this case – and Oklahoma residents can purchase a brand new Kandi Coco for just $865.
All in, that gives a tax break of $9,734 to Coco buyers – a full $2,234 more than the $7,500 tax credit that will be available to buyers of the Chevrolet Volt . While the Coco and Volt may share some of the same luxury features – including four-wheel disc brakes, independent suspension, AM/FM stereo with USB/MP3 port and a fully automatic transmission with reverse – the Coco’s top speed of 25mph ensures it won’t useful outside of gated communities. Then again, the Coco sure beats walking.
